TSC: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TSC
Largest movements
- Receivables within one year -€1.2m
down €1.2m (-37.8%), from €3.3m to €2.0m
of which Other amounts receivable: -€1.3m
- Cash +€70,987
up €70,987 (+12.7%), from €557,720 to €628,707
mainly Receivables within one year (+€1.2m) and Other debts (+€508,832)
- Trade debts -€1.6m
down €1.6m (-51.3%), from €3.1m to €1.5m
- Other debts +€508,832
up €508,832 (+292.4%), from €173,996 to €682,828
- Tax, wage and social debts -€78,680
down €78,680 (-48.8%), from €161,187 to €82,507
of which Taxes: -€134,072
- Gross operating margin +€469,225
up €469,225 (+169.3%), from €277,149 to €746,373
- Staff costs +€467,126
up €467,126 (+174.9%), from €267,147 to €734,272
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,998,891 | €2,855,628 | -€1.1m | -28.6% |
| Fixed assets | 21/28 | €185,776 | €179,761 | -€6,014 | -3.2% |
| Tangible fixed assets | 22/27 | €43,366 | €55,291 | +€11,926 | +27.5% |
| Land and buildings | 22 | - | €18,772 | +€18,772 | |
| Plant, machinery and equipment | 23 | €43,366 | €36,519 | -€6,847 | -15.8% |
| Financial fixed assets | 28 | €142,410 | €124,470 | -€17,940 | -12.6% |
| Current assets | 29/58 | €3,813,116 | €2,675,867 | -€1.1m | -29.8% |
| Amounts receivable within one year | 40/41 | €3,255,396 | €2,025,224 | -€1.2m | -37.8% |
| Trade receivables | 40 | €1,780,157 | €1,877,768 | +€97,611 | +5.5% |
| Other amounts receivable | 41 | €1,475,239 | €147,457 | -€1.3m | -90.0% |
| Cash at bank and in hand | 54/58 | €557,720 | €628,707 | +€70,987 | +12.7% |
| Deferred charges and accrued income | 490/1 | - | €21,935 | +€21,935 | |
| Total equity and liabilities | 10/49 | €3,998,891 | €2,855,628 | -€1.1m | -28.6% |
| Equity | 10/15 | €589,391 | €591,880 | +€2,489 | +0.4% |
| Contributions | 10/11 | €321,200 | €321,200 | = | 0.0% |
| Reserves | 13 | €268,191 | €270,680 | +€2,489 | +0.9% |
| Distributable reserves | 133 | €268,191 | €270,680 | +€2,489 | +0.9% |
| Amounts payable | 17/49 | €3,409,500 | €2,263,748 | -€1.1m | -33.6% |
| Amounts payable within one year | 42/48 | €3,409,500 | €2,263,748 | -€1.1m | -33.6% |
| Trade debts | 44 | €3,074,318 | €1,498,414 | -€1.6m | -51.3% |
| Suppliers | 440/4 | €3,074,318 | €1,498,414 | -€1.6m | -51.3% |
| Taxes, remuneration and social security | 45 | €161,187 | €82,507 | -€78,680 | -48.8% |
| Taxes | 450/3 | €138,348 | €4,276 | -€134,072 | -96.9% |
| Remuneration and social security | 454/9 | €22,838 | €78,231 | +€55,392 | +242.5% |
| Other amounts payable | 47/48 | €173,996 | €682,828 | +€508,832 | +292.4% |
| Remuneration, social security and pensions | 62 | €267,147 | €734,272 | +€467,126 | +174.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,520 | €12,429 | +€909 | +7.9% |
| Other operating charges | 640/8 | €1,049 | €3,643 | +€2,594 | +247.4% |
| Gross operating margin | 9900 | €277,149 | €746,373 | +€469,225 | +169.3% |
| Operating profit (loss) | 9901 | -€2,566 | -€3,971 | -€1,404 | -54.7% |
| Financial income | 75/76B | €18,430 | €11,397 | -€7,033 | -38.2% |
| Recurring financial income | 75 | €18,430 | €11,397 | -€7,033 | -38.2% |
| Financial charges | 65/66B | €3,593 | €2,351 | -€1,242 | -34.6% |
| Recurring financial charges | 65 | €3,593 | €2,351 | -€1,242 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €12,270 | €5,075 | -€7,196 | -58.6% |
| Income taxes | 67/77 | €3,631 | €2,586 | -€1,045 | -28.8% |
| Profit (loss) for the period | 9904 | €8,639 | €2,489 | -€6,151 | -71.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,639 | €2,489 | -€6,151 | -71.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.